Business | Banking
Emirates Islamic Bank reports 253 per cent growth in first quarter profits
Emirates Islamic Bank recorded a net profit of Dh148.6 million, up 253 per cent compared to the same period last year.
- By Babu Das Augustine, Banking Editor
- Published: 12:20 April 30, 2008
Dubai: Emirates Islamic Bank recorded a net profit of Dh148.6 million, up 253 per cent compared to the same period last year.
The total income in the first quarter of 2008 grew to Dh359.2 million from Dh189.5 million in the first quarter of 2007.
The bank's balance sheet including total assets, customer deposits and shareholder equity also recorded significant increases.
Compared to the first quarter last year, total assets reached Dh21.15 billion reflecting a 68 per cent growth, customer deposits grew to Dh18.15 billion registering 68 per cent growth with total shareholder equity reaching Dh1.48 billion, recording an increase of 31 per cent.
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